Time magazine picks one person who has had the greatest impact during the year to earn Time's title of "Person of the Year."

This year, Time narrowed down the options to Kate Middleton, the Duchess of Cambridge; Admiral William McRaven, who captured Bin Laden with SEAL Team 6; Congressman Paul Ryan, Chinese artist Ai Weiwei and The Protester.

On Today this morning, Time's managing editor Rick Stengel sat down with Matt Lauer and Ann Curry to announce their choice.